I’m seeing big buyers of SPX call upside around 1850 and 1860. Upside vol is cheap, and unless Yellen destroys the party, market can rally into long weekend. Expecting a re-test of highs on cash deployment and continued decent earnings off LOW BAR into earnings season.
Good Morning Tim Seymour with your daily emerging money audio call. Emerging Markets this No April fool’s joke is now flat on the year after what has been the best run 15 months.
Brazil suddenly has the eyes of global investors, let alone EM investors.
Since the Fed many non G3 currencies have made higher lows against the Dollar. We think some weaker U.S. data today on housing along with better external data for many of the FX crosses we are watching means this trend can continue.
Closing our Aussie short a few weeks ago has proven correct.
Last night after the bell, Brazil’s Long Term Foreign Currency Rating were downgraded to BBB- from BBB citing fiscal issues and deteriorating policy momentum.
Good Morning Emerging Money Subscribers we begin the day with global emerging markets bouncing today as we see upside in the bear market Emerging Market trade.
Last night after the bell, Brazil’s Long Term Foreign Currency Rating was downgraded to BBB- from BBB citing fiscal issues and deteriorating policy momentum.